Royal London Asset Management Ltd. Sells 16,581 Shares of Steel Dynamics, Inc. $STLD

Royal London Asset Management Ltd. trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,082,794 shares of the basic materials company’s stock after selling 16,581 shares during the quarter. Royal London Asset Management Ltd. owned about 0.76% of Steel Dynamics worth $248,458,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Steel Dynamics by 307.5% in the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares in the last quarter. Acadian Asset Management LLC boosted its position in Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares during the period. Jump Financial LLC acquired a new position in Steel Dynamics during the second quarter valued at approximately $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics in the second quarter valued at approximately $48,746,000. Finally, Sei Investments Co. raised its position in shares of Steel Dynamics by 7.9% in the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after purchasing an additional 7,712 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

STLD has been the subject of several recent analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Bank of America cut their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Barclays lifted their price objective on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Morgan Stanley decreased their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $257.27.

Steel Dynamics Trading Down 0.5%

Shares of STLD stock opened at $234.66 on Friday. Steel Dynamics, Inc. has a 52-week low of $126.88 and a 52-week high of $288.74. The stock has a market cap of $33.63 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 0.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The firm has a fifty day moving average of $242.07 and a 200-day moving average of $223.62.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio is currently 19.22%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.